Bally’s (NYSE:BALY) Reaches New 1-Year Low – Here’s What Happened

Bally’s Co. (NYSE:BALY)’s share price hit a new 52-week low on Tuesday . The company traded as low as $10.00 and last traded at $14.74, with a volume of 35158 shares changing hands. The stock had previously closed at $16.00.

Bally’s Stock Performance

The company has a debt-to-equity ratio of 15.62, a current ratio of 0.56 and a quick ratio of 0.54. The company’s fifty day moving average is $17.88 and its 200-day moving average is $17.55.

Institutional Investors Weigh In On Bally’s

Large investors have recently made changes to their positions in the company. Alpine Associates Management Inc. purchased a new position in shares of Bally’s in the third quarter worth approximately $26,665,000. Citigroup Inc. raised its position in Bally’s by 8.8% in the third quarter. Citigroup Inc. now owns 442,400 shares of the company’s stock worth $7,631,000 after acquiring an additional 35,901 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Bally’s in the third quarter worth approximately $7,326,000. King Street Capital Management L.P. bought a new position in Bally’s in the third quarter worth approximately $6,784,000. Finally, Glazer Capital LLC bought a new position in Bally’s in the third quarter worth approximately $4,369,000. 70.41% of the stock is currently owned by institutional investors.

About Bally’s

Bally’s Corp. is a global casino-entertainment company with a portfolio of casinos and resorts and online gaming businesses. It operates through the following segments: Casinos & Resorts, International Interactive, and North America Interactive. The Casinos & Resorts segment consists of the company’s casino and resort properties, a horse racetrack, and a golf course.